Stryker Co. (NYSE:SYK) Stock Position Raised by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lifted its position in Stryker Co. (NYSE:SYK) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,448 shares of the medical technology company’s stock after buying an additional 780 shares during the quarter. Stryker comprises 1.7% of Nixon Peabody Trust Co.’s investment portfolio, making the stock its 15th largest holding. Nixon Peabody Trust Co.’s holdings in Stryker were worth $20,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Clearbridge Investments LLC lifted its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Stryker by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after acquiring an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Stryker by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after acquiring an additional 32,491 shares during the last quarter. Swiss National Bank boosted its holdings in Stryker by 0.4% during the third quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock valued at $367,618,000 after acquiring an additional 4,300 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.5 %

Shares of SYK stock traded up $1.87 on Monday, reaching $391.95. 89,160 shares of the stock were exchanged, compared to its average volume of 1,261,404. The stock has a 50 day moving average price of $364.07 and a 200 day moving average price of $347.54. The stock has a market cap of $149.42 billion, a PE ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a one year low of $285.79 and a one year high of $396.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup boosted their target price on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.50% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.